MCX Gold and Silver Trend For Today: 7th Mar '12

MCX GOLD

MCX GOLD April contract was trading at Rs 27821.00 down Rs 26.00, or 0.09%. It touched an intraday high of Rs 27972.00 and an intraday low of Rs 27805.00. So far 10640 contracts have been traded. Gold dropped more than 2 percent with heavy volume yesterday as investors worried more about the possible Greek default. However, all the investors are awaiting for US Non Farm Payrolls data later to this week followed by the outcome of Policy statement from FOMC next Tuesday. Early trading today, the pressure on gold is visible. Despite weakness in the rupee against the dollar on MCX Gold remains sluggish. However Comaks down after tomorrow there is a slight edge. MCX gold fluctuation between the business is around Rs 27850.

MCX SILVER

MCX SILVER May contract was trading at Rs 57766.00 up Rs 58.00, or 0.10%. It touched an intraday high of Rs 58062.00 and an intraday low of Rs 57622.00. So far 12513 contracts have been traded. Silver on MCX has gained 0.5 per cent and beyond Rs 58,000 is reached.